Chanos has Ackman's back on Herbalife bet
By MICHELLE CELARIER
Last Updated: 2:42 PM, March 8, 2013
Posted: 12:51 AM, March 8, 2013
Activist investor Bill Ackman finally has a friend in his Herbalife fight.
Famed short seller Jim Chanos yesterday voiced his support for Ackman’s short position — and revealed he made money from shorting the Los Angeles-based company last year.
“I think Bill Ackman is correct in his analysis” of Herbalife, Chanos said in a TV interview.
“I’m not crazy for this multi-level-marketing business,” Chanos added.
Chanos was referring to the business model of Herbalife, the weight loss and nutritional supplements company Ackman is shorting. Less